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Summer Infant Inc (SUMR.OQ)

SUMR.OQ on NASDAQ Stock Exchange Capital Market

1.01USD
16 Nov 2018
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$-0.01 (-0.98%)
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Latest Key Developments (Source: Significant Developments)

Summer Infant Says Executed Commitment Letters For An Amended And Extended $60 Million Asset-Based Revolving Credit Facility With Bank Of America, N.A.
Wednesday, 30 May 2018 

May 30 (Reuters) - Summer Infant Inc ::SUMMER INFANT - EXECUTED COMMITMENT LETTERS FOR AN AMENDED AND EXTENDED $60 MILLION ASSET-BASED REVOLVING CREDIT FACILITY WITH BANK OF AMERICA, N.A..SUMMER INFANT INC - $60.0 MILLION SENIOR REVOLVING CREDIT FACILITY WILL HAVE A FIVE YEAR TERM.SUMMER INFANT INC - EXECUTED COMMITMENT FOR A $17.5 MILLION TERM LOAN WITH PATHLIGHT CAPITAL LLC.SUMMER INFANT INC - $17.5 MILLION TERM LOAN WITH PATHLIGHT CAPITAL WILL ALSO HAVE A FIVE-YEAR TERM.SUMMER INFANT INC - PROCEEDS FROM CREDIT FACILITY WILL BE USED TO REFINANCE EXISTING INDEBTEDNESS, TO FINANCE ONGOING WORKING CAPITAL NEEDS.  Full Article

Summer Infant Reports Q1 Loss Per Share $0.15
Wednesday, 2 May 2018 

May 2 (Reuters) - Summer Infant Inc ::SUMMER INFANT REPORTS FIRST QUARTER RESULTS.Q1 SALES $42.1 MILLION VERSUS $47.3 MILLION.Q1 LOSS PER SHARE $0.15.INVENTORY AS OF MARCH 31, 2018 WAS $28.7 MILLION COMPARED WITH $34.0 MILLION AS OF DECEMBER 30, 2017.  Full Article

Summer Infant Inc reports Q3 loss per share $0.07
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Summer Infant Inc :Summer Infant Inc reports third quarter results.Q3 loss per share $0.07.Q3 sales $43.1 million versus $48.6 million.Summer Infant Inc - ‍currently do not anticipate post-bankruptcy-filing receivables from Toys 'R' Us to be at risk in short term​.Summer Infant Inc - ‍inventory as of September 30, 2017 was $37.3 million compared with $36.1 million as of December 31, 2016​.Summer Infant Inc - ‍trade receivables at end of q3 were $31.2 million compared with $34.1 million as of December 31, 2016​.Summer Infant Inc - ‍revenue declined in quarter of approximately $2.3 million due to impact of Toys 'R' Us bankruptcy and related order delays​.  Full Article

Summer Infant enters into amended credit agreement
Friday, 20 Oct 2017 

Oct 20 (Reuters) - Summer Infant Inc :Summer Infant enters into amended credit agreement.Summer Infant - ‍amended existing credit facility to provide near-term financial flexibility as result of bankruptcy filing by Toys "R" Us on Sept 18​.Summer Infant - ‍bankruptcy of Toys "R" Us negatively impacted net revenue of Summer Infant by approximately $2.3 million during Q3.Summer Infant Inc - ‍as part of amendment, Summer Infant's lenders waived any loan violations that may have occurred due to certain "overadvances".Summer Infant - ‍expects charge of about $2.1 million in Q3 as allowance for bad debt related to pre-bankruptcy petition accounts receivable from Toys "R" Us​.Summer Infant - ‍the "overadvances" were made after Toys "R" Us receivables were no longer deemed "eligible accounts" under credit facility's revolver base​.  Full Article